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Baths & Sanitaryware Market Report 2009
Key Note Publications Ltd, Aug 2009
Following a year of turbulence in the financial sector and a crash in the housing market, the authors estimate that the UK market for baths and sanitaryware fell by 20% in 2008 at manufacturers' selling prices (msp) and a further decline is forecast for 2009. Following a period of severe price erosion and falling margins, the total market is estimated at £335.2m in 2008.
This report includes: all types of sanitaryware (toilets, urinals, cisterns, wash basins, pedestals and bidets) of vitreous china/ceramic, plastic or metallic materials; and baths (of acrylic, metal and other materials). The key markets for bathroom sales are housing and contract/commercial, in both the public and private sector. While new build housing is significant, replacement of bathroom suites in private housing represents a key market sector.
The new-build housing sector dropped dramatically in 2008, with total housing starts falling. The decline was most severe in the private sector, although the public sector also suffered. Additionally, a lack of consumer confidence has caused private housing repair, maintenance and improvement to slow in the face of rising unemployment and uncertain economic conditions, and this sector is expected to decline in 2009. The most buoyant areas are proving to be public-sector investment in the housing refurbishment programme Decent Homes, as well as education and health projects, all of which present opportunities for sales of baths and sanitaryware. Olympic-related work is also providing some activity. Conversely, the private commercial sector, which includes offices, retail and entertainment, has slowed considerably and is expected to decline in 2009.
The key UK brands include market leaders Ideal Standard and Twyford Bathrooms, both of which are owned by overseas groups. Jacuzzi UK is a key player in the luxury baths market. The UK subsidiaries of Qualceram Shires PLC went into administration at the end of March 2009. There is also a large number of imports, including Roca from Spain and VitrA from Turkey, and a whole host of low-cost imports from the Far East. Bathroom design now reflects international tastes, and as manufacturers have strategic bases around the world, there is greater promotion of global styles at different price ranges. The current relative weakness of sterling against the euro and other currency is, however, causing imports and inter-group transfers to be more expensive and margins to be further eroded.
Key trends for 2009 include sustainability and water efficiency measures, in the face of new Building Regulations to be introduced in October 2009, which will provide a new minimum standard of 125 litres of water per day per person. This is already affecting product design. Housebuilders now have to meet a raft of legislative requirements, including The Code for Sustainable Homes.
The authors forecast that the baths and sanitaryware market will not recover until 2010, even though there may be a slight upturn in the housing sector in the second half of 2009. There is, however, likely to be further consolidation internationally among baths and sanitaryware manufacturers, with reduction of costs, production efficiencies, stronger supply-chain partnerships and differentiated design potentially proving critical for survival.
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